Historical Stock Holdings

Terry Smith - Fundsmith

PeriodPortfolio ValueTop 20 holdings history (left to right)
2024   Q3$25.3 B MSFT
Microsoft Corp.
11.75% of portfolio
 		META
Meta Platforms Inc.
11.03% of portfolio
 		SYK
Stryker Corp.
7.63% of portfolio
 		ADP
Automatic Data Processing Inc.
6.10% of portfolio
 		V
Visa Inc.
6.03% of portfolio
 		PM
Philip Morris Intl.
5.77% of portfolio
 		IDXX
IDEXX Laboratories
5.32% of portfolio
 		WAT
Waters Corp.
5.19% of portfolio
 		GOOGL
Alphabet Inc.
4.50% of portfolio
 		MAR
Marriott Int'l.
4.20% of portfolio
 		PEP
PepsiCo Inc.
3.86% of portfolio
 		MTD
Mettler-Toledo International Inc.
3.51% of portfolio
 		PG
Procter & Gamble
3.17% of portfolio
 		FTNT
Fortinet Inc.
3.10% of portfolio
 		CHD
Church & Dwight
2.85% of portfolio
 		OTIS
Otis Worldwide Corp.
2.53% of portfolio
 		NKE
NIKE Inc.
2.20% of portfolio
 		BF.B
Brown-Forman Corp.
1.95% of portfolio
 		AAPL
Apple Inc.
1.44% of portfolio
 		TXN
Texas Instruments
1.39% of portfolio
2024   Q2$24.5 B MSFT
Microsoft Corp.
13.01% of portfolio
 		META
Meta Platforms Inc.
10.01% of portfolio
 		SYK
Stryker Corp.
7.43% of portfolio
 		PM
Philip Morris Intl.
5.98% of portfolio
 		V
Visa Inc.
5.94% of portfolio
 		ADP
Automatic Data Processing Inc.
5.43% of portfolio
 		IDXX
IDEXX Laboratories
5.29% of portfolio
 		GOOGL
Alphabet Inc.
5.08% of portfolio
 		WAT
Waters Corp.
4.32% of portfolio
 		MAR
Marriott Int'l.
4.20% of portfolio
 		PEP
PepsiCo Inc.
3.87% of portfolio
 		MTD
Mettler-Toledo International Inc.
3.37% of portfolio
 		PG
Procter & Gamble
3.12% of portfolio
 		CHD
Church & Dwight
2.92% of portfolio
 		MKC
McCormick & Co.
2.90% of portfolio
 		FTNT
Fortinet Inc.
2.53% of portfolio
 		OTIS
Otis Worldwide Corp.
2.41% of portfolio
 		BF.B
Brown-Forman Corp.
1.96% of portfolio
 		NKE
NIKE Inc.
1.93% of portfolio
 		AAPL
Apple Inc.
1.34% of portfolio
2024   Q1$25.6 B MSFT
Microsoft Corp.
12.54% of portfolio
 		META
Meta Platforms Inc.
9.44% of portfolio
 		SYK
Stryker Corp.
7.67% of portfolio
 		V
Visa Inc.
6.22% of portfolio
 		IDXX
IDEXX Laboratories
5.74% of portfolio
 		ADP
Automatic Data Processing Inc.
5.64% of portfolio
 		PM
Philip Morris Intl.
5.32% of portfolio
 		WAT
Waters Corp.
5.07% of portfolio
 		MAR
Marriott Int'l.
4.31% of portfolio
 		GOOGL
Alphabet Inc.
4.12% of portfolio
 		PEP
PepsiCo Inc.
4.00% of portfolio
 		MKC
McCormick & Co.
3.68% of portfolio
 		MTD
Mettler-Toledo International Inc.
3.18% of portfolio
 		PG
Procter & Gamble
3.05% of portfolio
 		CHD
Church & Dwight
2.93% of portfolio
 		OTIS
Otis Worldwide Corp.
2.45% of portfolio
 		NKE
NIKE Inc.
2.40% of portfolio
 		BF.B
Brown-Forman Corp.
2.32% of portfolio
 		FTNT
Fortinet Inc.
2.19% of portfolio
 		AAPL
Apple Inc.
1.07% of portfolio
2023   Q4$23.9 B MSFT
Microsoft Corp.
12.50% of portfolio
 		META
Meta Platforms Inc.
7.41% of portfolio
 		SYK
Stryker Corp.
6.91% of portfolio
 		IDXX
IDEXX Laboratories
6.34% of portfolio
 		V
Visa Inc.
6.25% of portfolio
 		PM
Philip Morris Intl.
5.92% of portfolio
 		ADP
Automatic Data Processing Inc.
5.67% of portfolio
 		WAT
Waters Corp.
5.24% of portfolio
 		PEP
PepsiCo Inc.
4.71% of portfolio
 		MKC
McCormick & Co.
4.32% of portfolio
 		MAR
Marriott Int'l.
4.15% of portfolio
 		GOOGL
Alphabet Inc.
4.10% of portfolio
 		NKE
NIKE Inc.
3.04% of portfolio
 		PG
Procter & Gamble
2.97% of portfolio
 		MTD
Mettler-Toledo International Inc.
2.88% of portfolio
 		CHD
Church & Dwight
2.88% of portfolio
 		BF.B
Brown-Forman Corp.
2.79% of portfolio
 		OTIS
Otis Worldwide Corp.
2.41% of portfolio
 		FTNT
Fortinet Inc.
1.80% of portfolio
 		AAPL
Apple Inc.
1.08% of portfolio
2023   Q3$22 B MSFT
Microsoft Corp.
12.41% of portfolio
 		SYK
Stryker Corp.
6.85% of portfolio
 		META
Meta Platforms Inc.
6.83% of portfolio
 		PM
Philip Morris Intl.
6.34% of portfolio
 		ADP
Automatic Data Processing Inc.
6.03% of portfolio
 		V
Visa Inc.
6.02% of portfolio
 		IDXX
IDEXX Laboratories
5.89% of portfolio
 		MKC
McCormick & Co.
5.26% of portfolio
 		PEP
PepsiCo Inc.
5.11% of portfolio
 		WAT
Waters Corp.
4.74% of portfolio
 		GOOGL
Alphabet Inc.
4.51% of portfolio
 		MAR
Marriott Int'l.
3.93% of portfolio
 		PG
Procter & Gamble
3.21% of portfolio
 		BF.B
Brown-Forman Corp.
3.17% of portfolio
 		CHD
Church & Dwight
3.03% of portfolio
 		NKE
NIKE Inc.
2.91% of portfolio
 		MTD
Mettler-Toledo International Inc.
2.86% of portfolio
 		OTIS
Otis Worldwide Corp.
2.35% of portfolio
 		FTNT
Fortinet Inc.
1.31% of portfolio
 		AAPL
Apple Inc.
1.04% of portfolio
2023   Q2$23.8 B MSFT
Microsoft Corp.
12.88% of portfolio
 		SYK
Stryker Corp.
7.06% of portfolio
 		META
Meta Platforms Inc.
6.81% of portfolio
 		PM
Philip Morris Intl.
6.47% of portfolio
 		IDXX
IDEXX Laboratories
6.24% of portfolio
 		V
Visa Inc.
5.74% of portfolio
 		MKC
McCormick & Co.
5.66% of portfolio
 		PEP
PepsiCo Inc.
5.16% of portfolio
 		ADP
Automatic Data Processing Inc.
5.10% of portfolio
 		EL
Estee Lauder Cos.
4.46% of portfolio
 		WAT
Waters Corp.
4.26% of portfolio
 		GOOGL
Alphabet Inc.
3.82% of portfolio
 		BF.B
Brown-Forman Corp.
3.42% of portfolio
 		MTD
Mettler-Toledo International Inc.
3.13% of portfolio
 		NKE
NIKE Inc.
3.11% of portfolio
 		PG
Procter & Gamble
3.09% of portfolio
 		CHD
Church & Dwight
2.80% of portfolio
 		OTIS
Otis Worldwide Corp.
2.41% of portfolio
 		AAPL
Apple Inc.
1.08% of portfolio
 		FTNT
Fortinet Inc.
0.73% of portfolio
2023   Q1$23.2 B MSFT
Microsoft Corp.
11.24% of portfolio
 		PM
Philip Morris Intl.
6.91% of portfolio
 		SYK
Stryker Corp.
6.77% of portfolio
 		IDXX
IDEXX Laboratories
6.37% of portfolio
 		EL
Estee Lauder Cos.
5.77% of portfolio
 		MKC
McCormick & Co.
5.56% of portfolio
 		V
Visa Inc.
5.46% of portfolio
 		ADP
Automatic Data Processing Inc.
5.32% of portfolio
 		PEP
PepsiCo Inc.
5.24% of portfolio
 		META
Meta Platforms Inc.
5.18% of portfolio
 		WAT
Waters Corp.
4.94% of portfolio
 		MTD
Mettler-Toledo International Inc.
3.71% of portfolio
 		NKE
NIKE Inc.
3.56% of portfolio
 		GOOGL
Alphabet Inc.
3.41% of portfolio
 		BF.B
Brown-Forman Corp.
3.39% of portfolio
 		CHD
Church & Dwight
3.22% of portfolio
 		AMZN
Amazon.com Inc.
3.02% of portfolio
 		OTIS
Otis Worldwide Corp.
2.29% of portfolio
 		PG
Procter & Gamble
1.10% of portfolio
 		AAPL
Apple Inc.
0.95% of portfolio
2022   Q4$21.9 B MSFT
Microsoft Corp.
9.89% of portfolio
 		PM
Philip Morris Intl.
7.62% of portfolio
 		EL
Estee Lauder Cos.
6.44% of portfolio
 		IDXX
IDEXX Laboratories
6.42% of portfolio
 		SYK
Stryker Corp.
6.26% of portfolio
 		ADP
Automatic Data Processing Inc.
6.04% of portfolio
 		MKC
McCormick & Co.
5.87% of portfolio
 		WAT
Waters Corp.
5.77% of portfolio
 		PEP
PepsiCo Inc.
5.49% of portfolio
 		V
Visa Inc.
5.33% of portfolio
 		MTD
Mettler-Toledo International Inc.
3.70% of portfolio
 		BF.B
Brown-Forman Corp.
3.64% of portfolio
 		NKE
NIKE Inc.
3.59% of portfolio
 		ADBE
Adobe Inc.
3.24% of portfolio
 		CHD
Church & Dwight
3.11% of portfolio
 		GOOGL
Alphabet Inc.
3.07% of portfolio
 		META
Meta Platforms Inc.
3.01% of portfolio
 		AMZN
Amazon.com Inc.
2.60% of portfolio
 		OTIS
Otis Worldwide Corp.
2.25% of portfolio
 		SABR
Sabre Corp.
0.64% of portfolio
2022   Q3$21.1 B MSFT
Microsoft Corp.
10.26% of portfolio
 		PM
Philip Morris Intl.
6.50% of portfolio
 		EL
Estee Lauder Cos.
6.10% of portfolio
 		ADP
Automatic Data Processing Inc.
5.98% of portfolio
 		IDXX
IDEXX Laboratories
5.60% of portfolio
 		PEP
PepsiCo Inc.
5.54% of portfolio
 		SYK
Stryker Corp.
5.41% of portfolio
 		MKC
McCormick & Co.
5.25% of portfolio
 		V
Visa Inc.
4.75% of portfolio
 		WAT
Waters Corp.
4.73% of portfolio
 		BF.B
Brown-Forman Corp.
3.86% of portfolio
 		AMZN
Amazon.com Inc.
3.64% of portfolio
 		META
Meta Platforms Inc.
3.53% of portfolio
 		GOOGL
Alphabet Inc.
3.47% of portfolio
 		INTU
Intuit Inc.
3.12% of portfolio
 		MTD
Mettler-Toledo International Inc.
2.89% of portfolio
 		CHD
Church & Dwight
2.87% of portfolio
 		ADBE
Adobe Inc.
2.76% of portfolio
 		NKE
NIKE Inc.
2.66% of portfolio
 		PYPL
PayPal Holdings Inc.
2.29% of portfolio
2022   Q2$23.5 B MSFT
Microsoft Corp.
10.97% of portfolio
 		PM
Philip Morris Intl.
6.94% of portfolio
 		EL
Estee Lauder Cos.
6.46% of portfolio
 		MKC
McCormick & Co.
5.50% of portfolio
 		IDXX
IDEXX Laboratories
5.41% of portfolio
 		WAT
Waters Corp.
5.21% of portfolio
 		SYK
Stryker Corp.
5.13% of portfolio
 		PEP
PepsiCo Inc.
5.07% of portfolio
 		ADP
Automatic Data Processing Inc.
4.98% of portfolio
 		V
Visa Inc.
4.73% of portfolio
 		INTU
Intuit Inc.
3.90% of portfolio
 		META
Meta Platforms Inc.
3.77% of portfolio
 		BF.B
Brown-Forman Corp.
3.65% of portfolio
 		GOOGL
Alphabet Inc.
3.54% of portfolio
 		CHD
Church & Dwight
3.34% of portfolio
 		ADBE
Adobe Inc.
3.29% of portfolio
 		AMZN
Amazon.com Inc.
3.07% of portfolio
 		NKE
NIKE Inc.
2.93% of portfolio
 		PYPL
PayPal Holdings Inc.
2.87% of portfolio
 		MTD
Mettler-Toledo International Inc.
2.65% of portfolio
2022   Q1$29.1 B MSFT
Microsoft Corp.
10.61% of portfolio
 		IDXX
IDEXX Laboratories
6.80% of portfolio
 		EL
Estee Lauder Cos.
5.42% of portfolio
 		SYK
Stryker Corp.
5.37% of portfolio
 		MKC
McCormick & Co.
5.31% of portfolio
 		PM
Philip Morris Intl.
5.31% of portfolio
 		INTU
Intuit Inc.
4.97% of portfolio
 		PEP
PepsiCo Inc.
4.49% of portfolio
 		ADP
Automatic Data Processing Inc.
4.35% of portfolio
 		V
Visa Inc.
4.29% of portfolio
 		META
Meta Platforms Inc.
4.18% of portfolio
 		PYPL
PayPal Holdings Inc.
4.16% of portfolio
 		WAT
Waters Corp.
3.93% of portfolio
 		AMZN
Amazon.com Inc.
3.79% of portfolio
 		GOOGL
Alphabet Inc.
3.63% of portfolio
 		NKE
NIKE Inc.
3.11% of portfolio
 		ADBE
Adobe Inc.
3.01% of portfolio
 		CHD
Church & Dwight
2.88% of portfolio
 		BF.B
Brown-Forman Corp.
2.71% of portfolio
 		SBUX
Starbucks Corp.
2.57% of portfolio
2021   Q4$41 B MSFT
Microsoft Corp.
10.67% of portfolio
 		IDXX
IDEXX Laboratories
6.82% of portfolio
 		EL
Estee Lauder Cos.
6.47% of portfolio
 		PYPL
PayPal Holdings Inc.
5.99% of portfolio
 		INTU
Intuit Inc.
5.86% of portfolio
 		META
Meta Platforms Inc.
5.58% of portfolio
 		PM
Philip Morris Intl.
4.73% of portfolio
 		SYK
Stryker Corp.
4.73% of portfolio
 		MKC
McCormick & Co.
4.46% of portfolio
 		PEP
PepsiCo Inc.
4.42% of portfolio
 		ADP
Automatic Data Processing Inc.
4.27% of portfolio
 		WAT
Waters Corp.
4.10% of portfolio
 		V
Visa Inc.
3.63% of portfolio
 		NKE
NIKE Inc.
3.56% of portfolio
 		AMZN
Amazon.com Inc.
3.46% of portfolio
 		SBUX
Starbucks Corp.
3.30% of portfolio
 		JNJ
Johnson & Johnson
3.01% of portfolio
 		GOOGL
Alphabet Inc.
2.96% of portfolio
 		CHD
Church & Dwight
2.92% of portfolio
 		BF.B
Brown-Forman Corp.
2.75% of portfolio
2021   Q3$36.2 B MSFT
Microsoft Corp.
9.38% of portfolio
 		PYPL
PayPal Holdings Inc.
8.84% of portfolio
 		IDXX
IDEXX Laboratories
7.29% of portfolio
 		INTU
Intuit Inc.
6.84% of portfolio
 		META
Meta Platforms Inc.
6.04% of portfolio
 		EL
Estee Lauder Cos.
5.66% of portfolio
 		SYK
Stryker Corp.
5.12% of portfolio
 		PM
Philip Morris Intl.
5.07% of portfolio
 		WAT
Waters Corp.
4.46% of portfolio
 		PEP
PepsiCo Inc.
4.20% of portfolio
 		MKC
McCormick & Co.
4.19% of portfolio
 		V
Visa Inc.
4.06% of portfolio
 		ADP
Automatic Data Processing Inc.
3.92% of portfolio
 		NKE
NIKE Inc.
3.52% of portfolio
 		AMZN
Amazon.com Inc.
3.34% of portfolio
 		SBUX
Starbucks Corp.
3.28% of portfolio
 		JNJ
Johnson & Johnson
3.22% of portfolio
 		BF.B
Brown-Forman Corp.
2.67% of portfolio
 		CHD
Church & Dwight
2.52% of portfolio
 		SABR
Sabre Corp.
0.66% of portfolio
2021   Q2$36.1 B PYPL
PayPal Holdings Inc.
9.93% of portfolio
 		MSFT
Microsoft Corp.
9.03% of portfolio
 		IDXX
IDEXX Laboratories
7.42% of portfolio
 		INTU
Intuit Inc.
6.23% of portfolio
 		META
Meta Platforms Inc.
6.21% of portfolio
 		EL
Estee Lauder Cos.
6.02% of portfolio
 		PM
Philip Morris Intl.
5.32% of portfolio
 		SYK
Stryker Corp.
5.05% of portfolio
 		MKC
McCormick & Co.
4.36% of portfolio
 		V
Visa Inc.
4.24% of portfolio
 		WAT
Waters Corp.
4.22% of portfolio
 		PEP
PepsiCo Inc.
4.14% of portfolio
 		ADP
Automatic Data Processing Inc.
3.91% of portfolio
 		NKE
NIKE Inc.
3.75% of portfolio
 		SBUX
Starbucks Corp.
3.33% of portfolio
 		JNJ
Johnson & Johnson
3.27% of portfolio
 		BDX
Becton Dickinson
2.92% of portfolio
 		BF.B
Brown-Forman Corp.
2.62% of portfolio
 		CHD
Church & Dwight
2.18% of portfolio
 		SABR
Sabre Corp.
0.54% of portfolio
2021   Q1$31.4 B PYPL
PayPal Holdings Inc.
9.50% of portfolio
 		MSFT
Microsoft Corp.
9.04% of portfolio
 		IDXX
IDEXX Laboratories
6.57% of portfolio
 		EL
Estee Lauder Cos.
6.30% of portfolio
 		META
Meta Platforms Inc.
6.03% of portfolio
 		INTU
Intuit Inc.
5.58% of portfolio
 		PM
Philip Morris Intl.
5.47% of portfolio
 		SYK
Stryker Corp.
5.43% of portfolio
 		MKC
McCormick & Co.
4.88% of portfolio
 		PEP
PepsiCo Inc.
4.51% of portfolio
 		V
Visa Inc.
4.37% of portfolio
 		ADP
Automatic Data Processing Inc.
4.26% of portfolio
 		WAT
Waters Corp.
3.97% of portfolio
 		SBUX
Starbucks Corp.
3.73% of portfolio
 		JNJ
Johnson & Johnson
3.47% of portfolio
 		NKE
NIKE Inc.
3.35% of portfolio
 		BDX
Becton Dickinson
3.35% of portfolio
 		BF.B
Brown-Forman Corp.
2.46% of portfolio
 		CHD
Church & Dwight
1.73% of portfolio
 		SABR
Sabre Corp.
0.70% of portfolio
2020   Q4$30.2 B PYPL
PayPal Holdings Inc.
9.57% of portfolio
 		MSFT
Microsoft Corp.
8.90% of portfolio
 		IDXX
IDEXX Laboratories
7.00% of portfolio
 		EL
Estee Lauder Cos.
5.99% of portfolio
 		META
Meta Platforms Inc.
5.81% of portfolio
 		INTU
Intuit Inc.
5.78% of portfolio
 		SYK
Stryker Corp.
5.39% of portfolio
 		PM
Philip Morris Intl.
5.34% of portfolio
 		MKC
McCormick & Co.
5.11% of portfolio
 		PEP
PepsiCo Inc.
4.74% of portfolio
 		V
Visa Inc.
4.44% of portfolio
 		ADP
Automatic Data Processing Inc.
4.14% of portfolio
 		SBUX
Starbucks Corp.
3.70% of portfolio
 		NKE
NIKE Inc.
3.63% of portfolio
 		WAT
Waters Corp.
3.62% of portfolio
 		BDX
Becton Dickinson
3.60% of portfolio
 		JNJ
Johnson & Johnson
3.33% of portfolio
 		BF.B
Brown-Forman Corp.
2.70% of portfolio
 		CHD
Church & Dwight
1.63% of portfolio
 		SABR
Sabre Corp.
0.54% of portfolio
2020   Q3$25.6 B MSFT
Microsoft Corp.
9.80% of portfolio
 		PYPL
PayPal Holdings Inc.
9.51% of portfolio
 		META
Meta Platforms Inc.
6.58% of portfolio
 		IDXX
IDEXX Laboratories
6.50% of portfolio
 		INTU
Intuit Inc.
5.85% of portfolio
 		EL
Estee Lauder Cos.
5.80% of portfolio
 		MKC
McCormick & Co.
5.72% of portfolio
 		PM
Philip Morris Intl.
5.71% of portfolio
 		SYK
Stryker Corp.
5.11% of portfolio
 		PEP
PepsiCo Inc.
4.82% of portfolio
 		V
Visa Inc.
4.79% of portfolio
 		BDX
Becton Dickinson
3.95% of portfolio
 		NKE
NIKE Inc.
3.80% of portfolio
 		ADP
Automatic Data Processing Inc.
3.77% of portfolio
 		JNJ
Johnson & Johnson
3.73% of portfolio
 		SBUX
Starbucks Corp.
3.48% of portfolio
 		WAT
Waters Corp.
3.28% of portfolio
 		BF.B
Brown-Forman Corp.
3.02% of portfolio
 		VRSK
Verisk Analytics Inc.
0.44% of portfolio
 		ANSS
ANSYS Inc.
0.43% of portfolio
2020   Q2$22.9 B MSFT
Microsoft Corp.
10.62% of portfolio
 		PYPL
PayPal Holdings Inc.
9.42% of portfolio
 		META
Meta Platforms Inc.
6.38% of portfolio
 		IDXX
IDEXX Laboratories
6.11% of portfolio
 		INTU
Intuit Inc.
5.93% of portfolio
 		PM
Philip Morris Intl.
5.92% of portfolio
 		MKC
McCormick & Co.
5.91% of portfolio
 		EL
Estee Lauder Cos.
5.56% of portfolio
 		V
Visa Inc.
5.18% of portfolio
 		PEP
PepsiCo Inc.
5.07% of portfolio
 		SYK
Stryker Corp.
4.88% of portfolio
 		BDX
Becton Dickinson
4.43% of portfolio
 		ADP
Automatic Data Processing Inc.
4.21% of portfolio
 		JNJ
Johnson & Johnson
3.93% of portfolio
 		NKE
NIKE Inc.
3.10% of portfolio
 		WAT
Waters Corp.
3.07% of portfolio
 		BF.B
Brown-Forman Corp.
2.74% of portfolio
 		SBUX
Starbucks Corp.
2.68% of portfolio
 		VRSK
Verisk Analytics Inc.
0.45% of portfolio
 		ANSS
ANSYS Inc.
0.43% of portfolio
2020   Q1$17.8 B MSFT
Microsoft Corp.
10.63% of portfolio
 		PM
Philip Morris Intl.
6.99% of portfolio
 		PYPL
PayPal Holdings Inc.
6.69% of portfolio
 		EL
Estee Lauder Cos.
6.04% of portfolio
 		META
Meta Platforms Inc.
6.04% of portfolio
 		IDXX
IDEXX Laboratories
5.79% of portfolio
 		INTU
Intuit Inc.
5.77% of portfolio
 		MKC
McCormick & Co.
5.66% of portfolio
 		SYK
Stryker Corp.
5.56% of portfolio
 		V
Visa Inc.
5.53% of portfolio
 		PEP
PepsiCo Inc.
5.40% of portfolio
 		BDX
Becton Dickinson
4.93% of portfolio
 		WAT
Waters Corp.
4.87% of portfolio
 		ADP
Automatic Data Processing Inc.
4.83% of portfolio
 		JNJ
Johnson & Johnson
3.97% of portfolio
 		BF.B
Brown-Forman Corp.
3.08% of portfolio
 		CLX
Clorox Co.
1.55% of portfolio
 		NKE
NIKE Inc.
1.08% of portfolio
 		SBUX
Starbucks Corp.
0.98% of portfolio
 		CHKP
Check Point Software Technologies
0.49% of portfolio
2019   Q4$21.2 B MSFT
Microsoft Corp.
9.08% of portfolio
 		PYPL
PayPal Holdings Inc.
7.76% of portfolio
 		PM
Philip Morris Intl.
6.79% of portfolio
 		EL
Estee Lauder Cos.
6.71% of portfolio
 		META
Meta Platforms Inc.
6.39% of portfolio
 		SYK
Stryker Corp.
6.03% of portfolio
 		MKC
McCormick & Co.
5.92% of portfolio
 		INTU
Intuit Inc.
5.87% of portfolio
 		V
Visa Inc.
5.70% of portfolio
 		IDXX
IDEXX Laboratories
5.67% of portfolio
 		WAT
Waters Corp.
5.64% of portfolio
 		PEP
PepsiCo Inc.
5.47% of portfolio
 		ADP
Automatic Data Processing Inc.
5.21% of portfolio
 		BDX
Becton Dickinson
4.91% of portfolio
 		JNJ
Johnson & Johnson
4.18% of portfolio
 		BF.B
Brown-Forman Corp.
3.08% of portfolio
 		CLX
Clorox Co.
1.22% of portfolio
 		VRSK
Verisk Analytics Inc.
0.44% of portfolio
 		SABR
Sabre Corp.
0.43% of portfolio
 		EFX
Equifax Inc.
0.43% of portfolio
2019   Q3$19.6 B MSFT
Microsoft Corp.
8.66% of portfolio
 		PYPL
PayPal Holdings Inc.
8.16% of portfolio
 		EL
Estee Lauder Cos.
6.88% of portfolio
 		PM
Philip Morris Intl.
6.57% of portfolio
 		SYK
Stryker Corp.
6.57% of portfolio
 		INTU
Intuit Inc.
6.34% of portfolio
 		IDXX
IDEXX Laboratories
6.33% of portfolio
 		META
Meta Platforms Inc.
5.90% of portfolio
 		WAT
Waters Corp.
5.85% of portfolio
 		MKC
McCormick & Co.
5.83% of portfolio
 		PEP
PepsiCo Inc.
5.81% of portfolio
 		V
Visa Inc.
5.67% of portfolio
 		ADP
Automatic Data Processing Inc.
5.35% of portfolio
 		BDX
Becton Dickinson
4.94% of portfolio
 		JNJ
Johnson & Johnson
3.94% of portfolio
 		BF.B
Brown-Forman Corp.
2.97% of portfolio
 		EFX
Equifax Inc.
0.45% of portfolio
 		MASI
Masimo Corp.
0.44% of portfolio
 		VRSK
Verisk Analytics Inc.
0.43% of portfolio
 		SABR
Sabre Corp.
0.42% of portfolio
2019   Q2$19.2 B PYPL
PayPal Holdings Inc.
9.18% of portfolio
 		MSFT
Microsoft Corp.
8.50% of portfolio
 		META
Meta Platforms Inc.
6.51% of portfolio
 		IDXX
IDEXX Laboratories
6.41% of portfolio
 		EL
Estee Lauder Cos.
6.36% of portfolio
 		INTU
Intuit Inc.
6.33% of portfolio
 		PM
Philip Morris Intl.
6.25% of portfolio
 		SYK
Stryker Corp.
6.21% of portfolio
 		WAT
Waters Corp.
5.74% of portfolio
 		PEP
PepsiCo Inc.
5.65% of portfolio
 		V
Visa Inc.
5.54% of portfolio
 		MKC
McCormick & Co.
5.50% of portfolio
 		ADP
Automatic Data Processing Inc.
5.28% of portfolio
 		BDX
Becton Dickinson
5.01% of portfolio
 		JNJ
Johnson & Johnson
3.92% of portfolio
 		MMM
3M Co.
3.19% of portfolio
 		MASI
Masimo Corp.
0.45% of portfolio
 		EFX
Equifax Inc.
0.44% of portfolio
 		SABR
Sabre Corp.
0.42% of portfolio
 		VRSK
Verisk Analytics Inc.
0.40% of portfolio
2019   Q1$17.6 B PYPL
PayPal Holdings Inc.
9.05% of portfolio
 		MSFT
Microsoft Corp.
8.14% of portfolio
 		WAT
Waters Corp.
7.19% of portfolio
 		PM
Philip Morris Intl.
6.69% of portfolio
 		INTU
Intuit Inc.
6.66% of portfolio
 		SYK
Stryker Corp.
6.27% of portfolio
 		EL
Estee Lauder Cos.
6.24% of portfolio
 		META
Meta Platforms Inc.
6.03% of portfolio
 		PEP
PepsiCo Inc.
5.76% of portfolio
 		IDXX
IDEXX Laboratories
5.68% of portfolio
 		ADP
Automatic Data Processing Inc.
5.44% of portfolio
 		BDX
Becton Dickinson
5.35% of portfolio
 		V
Visa Inc.
5.14% of portfolio
 		MKC
McCormick & Co.
4.45% of portfolio
 		MMM
3M Co.
4.18% of portfolio
 		JNJ
Johnson & Johnson
3.65% of portfolio
 		EFX
Equifax Inc.
0.39% of portfolio
 		MASI
Masimo Corp.
0.39% of portfolio
 		VRSK
Verisk Analytics Inc.
0.39% of portfolio
 		CHKP
Check Point Software Technologies
0.38% of portfolio
2018   Q4$15.8 B MSFT
Microsoft Corp.
8.73% of portfolio
 		PYPL
PayPal Holdings Inc.
8.48% of portfolio
 		IDXX
IDEXX Laboratories
7.03% of portfolio
 		PM
Philip Morris Intl.
6.42% of portfolio
 		META
Meta Platforms Inc.
6.39% of portfolio
 		INTU
Intuit Inc.
6.39% of portfolio
 		SYK
Stryker Corp.
6.24% of portfolio
 		BDX
Becton Dickinson
6.19% of portfolio
 		WAT
Waters Corp.
6.16% of portfolio
 		EL
Estee Lauder Cos.
5.80% of portfolio
 		PEP
PepsiCo Inc.
5.80% of portfolio
 		ADP
Automatic Data Processing Inc.
5.67% of portfolio
 		V
Visa Inc.
5.46% of portfolio
 		MMM
3M Co.
4.66% of portfolio
 		JNJ
Johnson & Johnson
4.02% of portfolio
 		MKC
McCormick & Co.
2.25% of portfolio
 		CL
Colgate-Palmolive
0.95% of portfolio
 		MASI
Masimo Corp.
0.33% of portfolio
 		EFX
Equifax Inc.
0.31% of portfolio
 		CHKP
Check Point Software Technologies
0.31% of portfolio
2018   Q3$14.9 B MSFT
Microsoft Corp.
9.26% of portfolio
 		PYPL
PayPal Holdings Inc.
8.96% of portfolio
 		IDXX
IDEXX Laboratories
7.41% of portfolio
 		PM
Philip Morris Intl.
6.79% of portfolio
 		SYK
Stryker Corp.
6.58% of portfolio
 		META
Meta Platforms Inc.
6.57% of portfolio
 		WAT
Waters Corp.
6.56% of portfolio
 		BDX
Becton Dickinson
6.55% of portfolio
 		INTU
Intuit Inc.
6.24% of portfolio
 		PEP
PepsiCo Inc.
6.13% of portfolio
 		ADP
Automatic Data Processing Inc.
5.87% of portfolio
 		V
Visa Inc.
5.75% of portfolio
 		EL
Estee Lauder Cos.
5.73% of portfolio
 		MMM
3M Co.
4.93% of portfolio
 		JNJ
Johnson & Johnson
4.25% of portfolio
 		CL
Colgate-Palmolive
2.27% of portfolio
 		MAR
Marriott Int'l.
0.14% of portfolio
2018   Q2$13.4 B PYPL
PayPal Holdings Inc.
9.43% of portfolio
 		MSFT
Microsoft Corp.
8.87% of portfolio
 		META
Meta Platforms Inc.
7.98% of portfolio
 		IDXX
IDEXX Laboratories
7.18% of portfolio
 		SYK
Stryker Corp.
6.93% of portfolio
 		WAT
Waters Corp.
6.81% of portfolio
 		BDX
Becton Dickinson
6.66% of portfolio
 		PM
Philip Morris Intl.
6.29% of portfolio
 		PEP
PepsiCo Inc.
6.22% of portfolio
 		INTU
Intuit Inc.
6.04% of portfolio
 		ADP
Automatic Data Processing Inc.
5.78% of portfolio
 		V
Visa Inc.
5.64% of portfolio
 		EL
Estee Lauder Cos.
5.22% of portfolio
 		MMM
3M Co.
4.98% of portfolio
 		JNJ
Johnson & Johnson
4.11% of portfolio
 		CL
Colgate-Palmolive
1.73% of portfolio
 		MAR
Marriott Int'l.
0.13% of portfolio